Sumitomo Life Insurance Co. Makes New Investment in American Electric Power Company, Inc. $AEP

Sumitomo Life Insurance Co. purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,502 shares of the company’s stock, valued at approximately $1,026,000.

Several other large investors have also recently modified their holdings of AEP. BlackRock Inc. acquired a new position in shares of American Electric Power during the second quarter worth $6,980,601,000. Bank of New York Mellon Corp acquired a new stake in American Electric Power in the second quarter valued at $495,495,000. Soroban Capital Partners LP raised its position in American Electric Power by 176.3% during the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 shares during the last quarter. Janus Henderson Group PLC raised its position in American Electric Power by 8,776.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,219,198 shares of the company’s stock worth $290,894,000 after purchasing an additional 2,194,198 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in American Electric Power during the 2nd quarter worth about $298,806,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AEP. Morgan Stanley reduced their price target on American Electric Power from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial lowered their price objective on American Electric Power from $146.00 to $139.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Barclays cut their price objective on American Electric Power from $138.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Mizuho decreased their target price on shares of American Electric Power from $141.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Finally, Jefferies Financial Group raised their price target on shares of American Electric Power from $147.00 to $154.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.19.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $120.94 on Friday. The business has a 50-day moving average price of $131.01 and a two-hundred day moving average price of $130.48. American Electric Power Company, Inc. has a 1-year low of $105.70 and a 1-year high of $140.58. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.44. The company has a market cap of $65.84 billion, a P/E ratio of 20.74, a PEG ratio of 2.17 and a beta of 0.52.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, July 30th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). American Electric Power had a net margin of 13.78% and a return on equity of 9.95%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the previous year, the company earned $1.43 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.250-6.550 EPS. As a group, analysts anticipate that American Electric Power Company, Inc. will post 6.37 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, August 10th. American Electric Power’s dividend payout ratio is presently 65.18%.

American Electric Power Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.